FIRST FEDERAL OF SC, FSB CONSUMER PRIVACY
RECOGNITION OF A CUSTOMERíS EXPECTATION OF PRIVACY-
When customers do business with First Federal of South Carolina,
FSB, they expect the information provided to the bank will be kept
private and confidential. Confidentiality is the heart of the
banking industry and must be maintained. First Federal is committed
to maintaining customer privacy and safeguarding customer account,
transaction and personal information.
USE, COLLECTION AND RETENTION OF CUSTOMER INFORMATION-
In the normal course of business, First Federal of South
Carolina, FSB must collect, retain and use confidential information
about customers and their accounts. This is only done when necessary
(and allowed by law) for First Federal to conduct the normal
business of the bank. This information may be used by the bank to
provide products, services and other opportunities to customers.
MAINTENANCE OF ACCURATE INFORMATION-
First Federal has established procedures to ensure that a
customerís financial information is accurate, current, and complete,
in accordance with reasonable commercial standards. When a customer
notifies the bank of any errors or changes in information, the bank
will promptly correct or update it. For safety purposes, customers
may be asked to present the request in a particular manner (i.e., in
writing). Any request of this nature by the bank is solely for the
protection of the customer and customerís information.
EMPLOYEE ACCESS TO INFORMATION-
Customer information is accessible only by employees authorized
or having a legitimate business reason for such information. First
Federal thoroughly informs and trains its employees on the
importance of confidentiality and customer privacy. On an annual
basis, First Federal employees are required to certify that they
Federal takes appropriate disciplinary measures, where necessary, to
enforce employee responsibilities regarding customer privacy.
PROTECTION OF INFORMATION VIA ESTABLISHED SECURITY PROCEDURES-
First Federal of South Carolina, FSB maintains appropriate
security safeguards and procedures regarding customer information.
This can include the use of passwords and/or access codes to prevent
revealing sensitive customer information to inappropriate or
RESTRICTIONS ON THE DISCLOSURE OF ACCOUNT INFORMATION-
Information about customers and their First Federal accounts is
private. The bank does not reveal specific information about
customers or their accounts to unaffiliated third parties with the
The information is needed to help complete a
The customer requests that we share the information.
The information is required for legitimate bank use, in
accordance with applicable law and banking practices. This
includes information provided to attorneys, collection agencies
and credit reporting agencies for purposes of collecting debt,
verifying a customerís existence, and verifying a customerís
The information is required by or allowed by law (for
example, a subpoena or court order to produce records regarding
the customerís account relationship with the bank). In such
instances, information provided is limited to that required by
the specific law.
A bank auditor or examiner for the purpose of completing an
official audit or regulatory examination of the bank requires
MAINTAINING CUSTOMER PRIVACY IN BUSINESS RELATIONSHIPS WITH
First Federal does not sell its customer list. If, in the future,
First Federal decides that there is a value to our customers in
sharing information with an unrelated third party (for the purpose
of marketing a product or service), the customer will be informed in
advance of the bankís decision and given the opportunity to decline
(opt out) to receive any such materials.
First Federal has some relationships with third party vendors to
help provide customers with the broadest possible range of financial
services. If personally identifiable customer information is
provided to any third party vendors, First Federal will insist that
the third party adhere to similar privacy principles and keep such
information confidential. Prior to establishing any new third party
vendor relationships, we will require that the vendor comply with a
code of privacy principles.